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[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)<br>[Sports betting](https://nuo18.lt/read-blog/68720_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) innovator launches new start-up<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>17 November 2021<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>Share<br> |
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<br>close panel<br> |
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<br>Share page<br> |
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<br>Copy link<br> |
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<br>About sharing<br> |
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<br>By Douglas Fraser<br> |
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<br>Business and economy editor, Scotland<br> |
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<br>Among Scotland's most teams is beginning once again with a brand-new company - and has secured the biggest initial financial investment of any British start-up [company](https://almightyblondeone.com/index.php/User:EvangelineS81).<br> |
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<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://terra.planetv.wtf/read-blog/698_.html) website [FanDuel](https://kiigasofthub.com/read-blog/10119_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) in 2009 in Edinburgh.<br> |
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<br>The new firm has [seed financing](https://wiki.ragnaworld.net/index.php?title=User:JeffersonWentz8) of $21m.<br> |
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<br>It aims to release a new open source software platform, on which others can [innovate](https://welcometohaiti.com/read-blog/18232_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) in [sports betting](https://tribetok.com/read-blog/88_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) wagering, in the first half of next year.<br> |
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<br>The company is hiring staff from a base in [Scotland](https://www.opentx.cz/index.php/U%C5%BEivatel:AlannaHamer89).<br> |
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<br>[FanDuel](https://social.updum.com/read-blog/276_the-ins-and-outs-of-betting-on-the-nfl-draft.html) was sold to [Flutter -](https://lovn1world.com/read-blog/2415_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) previously called Paddy Power Betfair - in 2018 and is now worth more than $30bn.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>However, Mr Eccles and other co-founders remain in legal disagreement with FanDuel's later stage investors over the method which they structured a takeover, which left the [Edinburgh](http://1600-6765.com/board_fyUJ95/176173) group without a share of the rising appraisal.<br> |
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<br>Mr Eccles stated that a person thing he found out from the [FanDuel experience](https://app.theremoteinternship.com/read-blog/25801_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) was to select financiers thoroughly.<br> |
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<br>He informed BBC Scotland: "We took a great deal of lessons from that, one of which was the value of who we pick as investors in this brand-new business, to ensure their worths are aligned with ours, that they take their fiduciary tasks properly, which they're the ideal partners for us."<br> |
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<br>The $21m seed financing for BetDEX consists of stakes taken by seven [backers](https://pipewiki.org/wiki/index.php/User:GarfieldNanney) of US innovation companies, including 2 large funds - Paradigm and FTX - which [specialise](https://twoplustwoequal.com/read-blog/58995_just-how-much-are-americans-investing-in-sports-betting.html) in purchasing companies running with [crypto-currencies](https://lovn1world.com/read-blog/2408_things-you-need-to-know-about-rafting-adventures.html).<br> |
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<br>Varun Sudhakar, [president](https://wiki.rrtn.org/wiki/index.php/User:AudreyWallner) of BetDEX, stated: "The [sports betting](https://social.sktorrent.eu/read-blog/8783_things-you-need-to-learn-about-rafting-adventures.html) wagering industry charges high costs for poor items and limits trades by its most effective users.<br> |
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<br>"BetDEX is [diametrically opposed](https://terra.planetv.wtf/read-blog/671_.html) to this technique. We will successfully contend against incumbents with a significantly superior item and low costs, which is now possible with the development of the [blockchain innovation](https://soucial.net/read-blog/7625_compare-amp-review-oddsjet-de.html)."<br> |
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<br>As chairman of the new firm, Mr Eccles stated it could look familiar to retail punters utilized to existing online firms.<br> |
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<br>'Pool of skill'<br> |
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<br>However, he says that those who utilize its platform to run their own wagering firms will have the ability to innovate and create a wider series of [sports betting](https://wiki.monnaie-libre.fr/wiki/Utilisateur:ZitaHeitmann22) items.<br> |
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<br>He said the normal share taken by online bookmakers is 7% to 10% of a stake, but BetDEX must permit that to fall listed below 1%.<br> |
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<br>The business will establish its own wagering apps to run on the platform.<br> |
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<br>Mr Eccles said these would take an "intelligent, thoughtful" technique to the way they are marketed to safeguard those who struggle with problem [sports betting](https://unightlifetalk.site/read-blog/2627_just-how-much-are-americans-investing-in-sports-betting.html).<br> |
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<br>He said the team of around 500 software application engineers who helped develop FanDuel from Scotland revealed that it stays the location to construct a company. BetDEX has the exact same head of innovation, Stuart Tonner.<br> |
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<br>"A lot of that [FanDuel] success was constructed on an [extremely](https://social.ppmandi.com/read-blog/220_sport-betting-industry-seeks-to-protect-itself.html) knowledgeable, really [gifted engineering](https://pipewiki.org/wiki/index.php/User:ArlethaE75) group, that built this item that could [process millions](https://projectblueberryserver.com/index.php/User:KarmaWekey) of bets and countless users.<br> |
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<br>"There's a genuine skill pool of skilled engineers who assisted us build our item and that's what we want to take advantage of for BetDEX too."<br> |
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<br>Related subjects<br> |
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<br>Edinburgh<br> |
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<br>[Sports betting](https://wiki.snooze-hotelsoftware.de/index.php?title=Benutzer:LienODonnell)<br> |
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<br>More on this story<br> |
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<br>Paddy Power purchases fantasy [sports betting](https://sotawiki.net/sota/User:ThorstenSkerst) website<br> |
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<br>23 May 2018<br> |
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<br>[FanDuel founder](https://comunidadebrasilbr.com/read-blog/14369_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) leaves company<br> |
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<br>Published<br> |
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<br>20 November 2017<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) |
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